Mali Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

low-income Saharan economy; recession due to COVID-19 and political instability; extreme poverty; environmentally fragile; high public debt; agricultural and gold exporter; terrorism and warfare are common

Real GDP (purchasing power parity)

$46.452 billion (2021 est.)

$45.076 billion (2020 est.)

$45.64 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.05% (2021 est.)

-1.24% (2020 est.)

4.76% (2019 est.)

Real GDP per capita

$2,100 (2021 est.)

$2,100 (2020 est.)

$2,200 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$17.508 billion (2019 est.)

Inflation rate (consumer prices)

3.93% (2021 est.)

0.44% (2020 est.)

-1.66% (2019 est.)

Credit ratings

Moody's rating: Caa1 (2020)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 41.8% (2017 est.)

industry: 18.1% (2017 est.)

services: 40.5% (2017 est.)

GDP - composition, by end use

household consumption: 82.9% (2017 est.)

government consumption: 17.4% (2017 est.)

investment in fixed capital: 19.3% (2017 est.)

investment in inventories: -0.7% (2017 est.)

exports of goods and services: 22.1% (2017 est.)

imports of goods and services: -41.1% (2017 est.)

Agricultural products

maize, rice, millet, sorghum, mangoes/guavas, cotton, watermelons, green onions/shallots, okra, sugar cane

Industries

food processing; construction; phosphate and gold mining

Industrial production growth rate

1.01% (2021 est.)

Labor force

7.9 million (2021 est.)

Labor force - by occupation

agriculture: 80%

industry and services: 20% (2005 est.)

Unemployment rate

7.72% (2021 est.)

7.7% (2020 est.)

7.44% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 17.3%

male: 15.4%

female: 19.8% (2021 est.)

Population below poverty line

42.1% (2019 est.)

Gini Index coefficient - distribution of family income

36.1 (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.5%

highest 10%: 25.8% (2010 est.)

Budget

revenues: $2.657 billion (2018 est.)

expenditures: $3.467 billion (2018 est.)

Budget surplus (+) or deficit (-)

-2.9% (of GDP) (2017 est.)

Public debt

35.4% of GDP (2017 est.)

36% of GDP (2016 est.)

Taxes and other revenues

14.16% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$379.683 million (2020 est.)

-$1.289 billion (2019 est.)

-$836.255 million (2018 est.)

Exports

$5.196 billion (2020 est.) note: data are in current year dollars

$4.442 billion (2019 est.)

$4.186 billion (2018 est.)

Exports - partners

United Arab Emirates 66%, Switzerland 26% (2019)

Exports - commodities

gold, cotton, sesame seeds, lumber, refined petroleum (2021)

Imports

$6.339 billion (2020 est.) note: data are in current year dollars

$6.559 billion (2019 est.)

$6.081 billion (2018 est.)

Imports - partners

Senegal 23%, Cote d'Ivoire 15%, China 11%, France 9% (2019)

Imports - commodities

refined petroleum, clothing and apparel, packaged medicines, cement, broadcasting equipment (2019)

Reserves of foreign exchange and gold

$647.8 million (31 December 2017 est.)

$395.7 million (31 December 2016 est.)

Debt - external

$4.192 billion (31 December 2017 est.)

$3.981 billion (31 December 2016 est.)

Exchange rates

Communaute Financiere Africaine francs (XOF) per US dollar -

554.531 (2021 est.)

575.586 (2020 est.)

585.911 (2019 est.)

555.446 (2018 est.)

580.657 (2017 est.)

NOTE: The information regarding Mali on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Mali 2023 information contained here. All suggestions for corrections of any errors about Mali 2023 should be addressed to the CIA or the source cited on each page.